Gran Group (GRAN.US), a financial advisory firm based in Hong Kong, has scaled back its IPO fundraising target. The company now plans to raise US$9 million.

Grande Group, a Hong Kong-based financial consulting and IPO sponsor, announced on Thursday to reduce the size of its upcoming IPO. According to the latest prospectus, Grande Group plans to raise $9 million through the issuance of 1.9 million shares at a price range of $4 to $6 per share. This is compared to the company's previous plan to issue 2.3 million shares at a price range of $4 to $5. Based on the midpoint of the revised price range, Grande Group's fundraising is about 7% lower than its original plan. Grande Group's main business is operated through its subsidiary Grande Capital, a boutique financial services firm focused on IPO sponsorship, corporate finance consulting, and referral services, primarily targeting clients in the Asian market. Since 2018, Grande Capital has successfully completed 16 IPO projects at the Hong Kong Stock Exchange. Founded in 2018, Grande Group achieved $5 million in revenue in the 12 months ended September 30, 2024. The company plans to go public on the Nasdaq under the ticker GRAN, with Guotai Securities as the sole underwriter.